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Pfizer Plans US $100m Expansion of Company’s Drug Development Plant in Sanford, USA

Introduction:

Pfizer, the Global drug manufacturer is planning a potential US $100 million expansion of the company’s drug development plant in Sanford.

Features:

Expansion of Pfizer drug development plant would include the addition of 50 new jobs if the company opts to make the investment in North Carolina. New jobs are expected to be paid an average of $90, 000 per year.

It is heard that Pfizer is also planning to locate the project in Massachusetts and the company is already working on a $200 million expansion of a plant in Andover, Massachusetts, for expanded production of complex biologics and vaccines.

Pfizer is looking for a new gene therapy site in Sanford and the work is in initial stages. Pfizer acquired Bamboo Therapeutics, a gene therapy company in Chapel Hill for $645 million in August.

The deal provided Pfizer with the means for a deeper dive into gene therapy. These companies were focused on developing gene therapies for the potential treatment of patients with certain rare diseases that are related to neuromuscular conditions and those affecting the central nervous system.

Pfizer also committed $4 million to a multi-year academic fellowship program, which is managed by North Carolina Biotechnology Centre, to support postdoctoral fellowships in North Carolina university research laboratories.

Pfizer already had a 230-acre manufacturing campus that employs about 450 people involved in clinical manufacturing of drugs in development.

Much of the vaccine production was off shored to Ireland following Pfizer’s merger with Wyeth in 2009.

Specifications:

NamePfizer
LocationSanford, USA
TypeExpansion
Estimated CostUS $100 million
Parties InvolvedPfizer
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